What Operis does

Operis Group PLC, founded in 1990 and headquartered in London with a North American office in Toronto, is an independent advisor specializing in financial modelling, model audit, and financial advisory for the project finance sector. The firm serves project developers, contractors, investors, and asset managers across infrastructure subsectors including energy transition, renewables, transport, healthcare, education, digital infrastructure, and PPP/P3 projects in the UK and internationally (94 countries, £250bn+ in aggregate project value). Its core offerings comprise bespoke financial model development, award-winning model audit services (Formal Model Audit, Due Diligence Review, High Level Review) backed by up to £20M in liability cover, tailored financial advisory (greenfield, refinancing, M&A), tax and accounting advice, and a training academy delivered globally in-person and virtually. The proprietary Operis Analysis Kit (OAK) — an Excel add-in following ICAEW-aligned methodology with typically over 100 audit checks per model — is licensed on subscription to large banks, blue-chip firms, and public sector bodies and represents the firm's primary software product.

Underlying technology centers on Excel-based financial modelling augmented by proprietary methodology (parallel model reconstruction) and OAK's structural compliance checking. Revenue is generated primarily through professional services engagements (advisory, modelling, audit, training), with a smaller recurring stream from OAK subscription licensing. Pricing is project-based for advisory and audit work; training is priced per attendee (£1,200-£2,400+VAT depending on course); OAK is offered on monthly subscription with a 30-day free trial. Distribution is direct enterprise sales through London and Toronto offices, supplemented by global public training courses and community/brand-building via Excel esports sponsorships (Financial Modelling World Cup, Microsoft Excel World Championship). The company is privately held by Operis Group Limited with wholly-owned operating subsidiaries in the UK (Operis Business Engineering Limited, FCA-regulated; Operis TRG Ltd) and Canada (Operis Project Finance Limited in British Columbia), and has been organically grown with no disclosed external funding.

Name

Operis

Legal name

Operis Group Limited

Website

https://operis.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

51–100 employees

Short description

Operis is an independent project finance advisory firm founded in 1990, providing financial modelling, model audit, financial advisory, training, and tax & accounting services to developers, contractors, investors, and asset managers across global infrastructure sectors, with offices in London and Toronto and a proprietary Excel add-in (OAK).

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Financial Modelling Services: Bespoke financial model development for transactional models, asset management modelling, and portfolio modelling. Models built for specific purposes offering best usability and longevity.
2. Model Audit Services: Award-winning model audit services including Formal Model Audit (FMA), Due Diligence Review (DDR), and High Level Review (HLR) across infrastructure sectors.
3. Training Courses: Public courses worldwide in person and virtually, as well as corporate team bookings. Ranges from entry level to advanced modelling concepts.
4. OAK Excel Add-in Licensing: Software licensing for Operis Analysis Kit (OAK), the world's leading Excel add-in for financial modelling review and development. Preferred tool used by financial modellers in world's largest banks and blue-chip firms.
5. Financial Advisory: Tailored independent financial advice ranging from financial modelling to complete financial advice. Services include greenfield advisory, refinancing advice, M&A advisory, business scenario modelling, and tax & accounting advice.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Operis provides bespoke financial model development, model audit (Formal Model Audit, Due Diligence Review, High Level Review), tailored financial advisory (greenfield, M&A, refinancing), and tax & accounting services for project finance transactions, primarily in infrastructure sectors. It also licenses the Operis Analysis Kit (OAK) Excel add-in and delivers public and in-house financial modelling training courses under Operis Academy.

Product overview

Operis is a project finance advisory and financial modelling services firm with a comprehensive portfolio of services. The core offerings include Financial Modelling Services (bespoke model development), Model Audit (auditing with up to £20M liability), Financial Advisory (greenfield, M&A, refinancing advice), Tax & Accounting, and Operis Academy training courses. The proprietary Operis Analysis Kit (OAK) is an award-winning Excel add-in for model review and development. Training courses cover sectors including natural resources, renewables, PPP/P3, M&A, public sector modelling, and Excel VBA, delivered in-person globally and online on-demand.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Modelling Services Bespoke financial model development for infrastructure, energy transition, and digital infrastructure projects, covering transactional models, asset management models, and portfolio models. Built for specific purposes with best usability and longevity.
• Model Audit Award-winning model auditing services including Formal Model Audit (FMA), Due Diligence Review (DDR), and High Level Review (HLR) across infrastructure sectors, with liability coverage up to £20 million.
• Financial Advisory Tailored independent financial advice covering greenfield advisory, refinancing advice, M&A advisory, business scenario modelling, and tax & accounting for infrastructure projects.
• Tax & Accounting Professional advice on tax legislation and accounting standards for project finance, including transaction advice, refinancing advice, and grantor/operator accounting.
• Operis Analysis Kit (OAK) Award-winning Excel add-in for reviewing and developing complex financial spreadsheets, identifying compliance with industry-standard modelling best practices and improving model quality. Licensed on subscription with a 30-day free trial; described as the world's leading Excel add-in for financial modelling review.
• Finance Modelling for Natural Resources Projects 4-day in-person or 8 half-day online course covering best practice approaches for building accurate, robust financial models for oil, gas or mining projects. Priced at £2,400+VAT per person.
• Financial Modelling for Renewable Energy Projects Training course for modelling renewable energy projects including seasonality considerations and financing plan optimization.
• Public Private Partnership (PPP-P3) Modelling Course on constructing robust PPP/P3 models from scratch and using them to price bids, with AI-powered continuous learning features.
• Financial Model Assessment and Review Course on gaining confidence to work with unfamiliar models and provide assurance to other users.
• M&A Modelling Course on comprehensive financial modelling, forecasting and company valuation techniques for aspiring and current financial analysts. Priced at £1,200+VAT per person.
• Ultimate Excel VBA Course Course on Excel VBA for checking unfamiliar financial models, running breakeven sensitivities, and linking assessment workbooks.
• Spreadsheet Modelling for the Public Sector Course on spreadsheet modelling skills for developing DCF and VfM models following HMT Aqua book principles.
• Aligning Contracts and Financial Models for Lawyers Course on the relationship between financial models and project agreements, including Debt Service Cover Ratios and project finance transaction lifecycles.
• Financial Modelling Essentials Course Online on-demand course covering fundamentals of financial modelling for those starting in modelling.

Quantifiable outcome

• Models built with over 100 separate audit checks for reliability
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Sensus AdvisorscoreStrategic or Co-development Partner · 31 July 2024Operis, in partnership with Sensus Advisors, provided debt advisory and analytical support services to CVC DIF's Ottoway in the strategic acquisition of UK student accommodation assets. This co-advisory relationship demonstrates Operis's collaborative approach to complex infrastructure transactions.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• KPMG (Infrastructure Advisory): KPMG's Deal Advisory and Infrastructure practice provides project finance advisory, modelling and lender-side services globally. It competes with Operis on large infrastructure mandates while offering broader Big 4 advisory, audit and tax capabilities that Operis cannot match.
• PwC (Capital Projects & Infrastructure): PwC's Capital Projects & Infrastructure team provides financial modelling, transaction advisory and assurance across infrastructure and energy. Like Operis, it serves project developers, lenders and investors on PPP/P3 mandates, but at much greater scale and with cross-sell into audit and tax.
• Deloitte (Infrastructure & Capital Projects): Deloitte's Infrastructure & Capital Projects practice offers financial modelling, model review and transaction advisory for major infrastructure projects worldwide. It is the closest Big 4 competitor to Operis's core modelling and audit offering and competes for the same marquee engagements.
• WSP: WSP's Project, Programme and Commercial Advisory team provides financial modelling, lender advisory and due diligence services across infrastructure sectors. As a large global consulting firm, it competes with Operis for the same infrastructure advisory mandates while offering broader engineering services.
• Mazars: Mazars provides project finance advisory, financial modelling and assurance across infrastructure and energy, with growing presence in the UK and Europe. It overlaps with Operis on independent model audit and lender-side mandates and competes on mid-market transactions.
• EY (Infrastructure Advisory): EY-Parthenon and EY's Infrastructure practice deliver financial modelling, transaction advisory and assurance services for infrastructure and energy projects. It is a frequent competitor to Operis on lender-side and developer-side advisory mandates, and has begun offering related training programmes.

Direct peers

• Arup: Arup provides engineering, advisory and project finance services across infrastructure sectors including transport, energy and social infrastructure. Its project finance advisory team offers the kind of independent modelling and lender advisory that competes head-to-head with Operis on large PPP and renewables mandates.
• Mott MacDonald: Mott MacDonald's Advisory and Project Finance division provides financial modelling, due diligence and lender advisory across transport, energy, water and social infrastructure. It is a long-standing specialist competitor to Operis in UK and international PPP/P3 mandates.

Emerging players

• FTI Consulting: FTI Consulting's Strategic Communications and Corporate Finance segments provide financial advisory, expert testimony and transaction support across infrastructure and energy. It is a more transactional and litigation-adjacent peer than Operis, but competes for infrastructure restructuring and refinancing mandates.
• Accuracy: Accuracy is an independent financial advisory firm providing modelling, valuation and litigation support, including infrastructure and project finance engagements. It is comparable to Operis as a smaller, specialist, independent advisory firm competing against Big 4 on complex financial modelling mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/operis
• Xx.com/operisgroup

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Operis